Prada, Cartier and Burberry also make the cut.

Today, Interbrand released its annual 'Best Global Brands' report, naming Louis Vuitton, Hermès, Gucci, Prada, Tiffany & Co., Cartier and Burberry as the top seven luxury brands. The annual list, which names the 100 best-performing brands in the world based on brand earnings, has named Apple and Google as number one and two respectively. The list bases its conclusions on the financial performance of the product and service, the role of the brand in influencing customer choice, and the strength the brand has to command a premium price or secure earnings for the company.

Of the luxury sector, Hermès was the top riser, boasting an 18 percent growth in brand value. Burberry exceeded its customers expectations and desires, doubled is digital growth, and rose 8 percent. Interestingly, Louis Vuitton declined 9 percent in brand value but continued to place emphasis on higher end products and evolve its overall value proposition.

For luxury brands the list's findings are excellent news, and proof that consumers continue to spend money on luxury items in a less than ideal economy.

A Part of Hearst Digital Media
Harper's BAZAAR participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites.